Rhyolite encouraged by exploration results at Suriname gold project

Rhyolite Resources (TSXV: RYE) reported that the exploration program the company ran in December at the Brothers project in Suriname has expanded the gold potential of the concession. 

In a press release, the Canadian miner said that prospecting by small-scale miners working within the property has opened new sites exposing quartz veins in the soil profile. High-grade rock samples and channel samples also continue to expand the extent of the gold-bearing structures at Brothers.

In detail, 41 rock grab samples reported values of 42.67 and 20.54 g/t of gold. In total, nine samples were 5 g/t or higher (22%) and 19 were greater than 1 g/t (46%). 

Rhyolite also collected two-meter channel samples wherever small-scale miners opened small trenches to prospect. Out of 25 samples, four were over 2 g/t and thirteen were over 0.2 g/t (52%). 

“The identification of additional targets returning multiple high-grade samples indicates the significant potential of the Brothers concession that lies only 45 kilometers south of Newmont’s Merian mine, which is producing 500,000 ounces of gold per year,” Richard Graham, the company’s president and CEO, said in the media brief.

The 96-square-kilometer Brothers project is located approximately 140 kilometers south of Paramaribo and lies within the same general mineralized lithologic and structural setting as IAMGOLD’s Rosebel Gold mine and Newmont’s Merian mine.